Kadant (KAI) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.72 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.58. The company posted revenue of $96.50 million in the period, compared to analysts expectations of $86.37 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Kadant opened for trading at $47.27 and hit $47.88 on the upside on Wednesday, eventually ending the session at $47.71, with a gain of 1.14% or 0.54 points. The heightened volatility saw the trading volume jump to 32,474 shares. Company has a market cap of $514 M.
In a different news, on Apr 28, 2016, Thomas C Leonard (director) sold 2,500 shares at $47.00 per share price. According to the SEC, on Jan 12, 2016, William P Tully (director) sold 3,750 shares at $38.03 per share price. On Nov 10, 2015, John M Albertine (director) sold 5,000 shares at $40.99 per share price, according to the Form-4 filing with the securities and exchange commission.
Kadant Inc. is a supplier of equipment used in process industries. The process industries including papermaking paper recycling and oriented strand board (OSB) an engineered wood panel product used primarily in home construction. In addition the Company manufactures granules made from papermaking byproducts. It operates in two segments: Papermaking Systems and Wood Processing Systems and a separate product line Fiber-based Products. Through its Papermaking Systems segment it develops manufactures and markets a range of equipment and products for the papermaking paper recycling and other process industries. Through its Wood Processing Systems segment it designs manufactures and markets stranders and related equipment. Through its Fiber-based Products business the Company produces biodegradable absorbent granules from papermaking byproducts for use as carriers for agricultural home lawn and garden and professional lawn turf and ornamental applications.